MACRO PULSE
2026 Outlook: Charting the Year Ahead
As investors look to 2026, markets are defined by tension. Our Global Market Strategy team shares their outlook.
From the Global Market Strategy Team: How a U.S. government shutdown hits the strategist desk Get Our Insights >
Smart insights drive stronger portfolios
We leverage proprietary research and collaborate with investment teams across New York Life Investment Management to offer timely answers to the questions facing investors today in key areas:
Chart of the Week: Midyear Outlook: The Narrowing Path
WEEK OF July 19, 2026
The first half of 2026 tested the market’s strongest themes. U.S. growth and earnings held up, AI investment expanded, and markets remained resilient despite rising geopolitical and policy uncertainty. But leadership has narrowed, higher energy prices have complicated the inflation outlook, and monetary policy is less supportive. See what the Global Market Strategy team has to say in their latest Macro Pulse outlook.
Read Macro Pulse Report: Dog Days, Data Shifts
Chipflation: Today’s Leg of Market Leadership
In this episode of Market Matters, Julia Hermann and Michael LoGalbo discuss “chipflation,” the shift from compute to memory in AI market leadership, and what rising semiconductor prices may mean for hyperscalers, chipmakers, and portfolio diversification.
Macro Pulse Midyear Outlook: The Narrowing Path
Markets enter the second half with a constructive outlook, but a narrower path forward. In this preview of our latest Macro Pulse report, Julia Hermann, CFA breaks down how U.S. exceptionalism, AI-driven growth, and inflation are shaping markets and asset allocation implications.
Chipflation: Today’s Leg of Market Leadership
Macro Pulse Midyear Outlook: The Narrowing Path
2025 | Trust or Bust: The Next Era of Global Debt Sustainability
The choices governments make will shape long-term capital markets assumptions around inflation, interest rates, and potential growth; and will influence asset allocation.
A global debt sustainability framework:
Private Markets
Navigate the next phase of global private markets
Key investor questions:
- How does an extended but maturing private markets cycle change where investors should be selective across private equity, private credit, real estate, and real assets?
- Where are the most compelling opportunities as policy support, easing financial conditions, and elevated long-term rates reshape valuations, deal activity, and underwriting discipline?
- How are global transitions such as AI, digitization, electrification, and supply chain reconfiguration creating long-term, capital-intensive opportunities across private markets?
Prospective investors should be aware that investments in private funds or alternative investment strategies are suitable only for qualified investors who do not require liquidity and who can bear the economic risk, including the potential for a complete loss, of their investment. Investors are encouraged to consult their tax or legal advisors before making such investments.
Video: Private Markets Outlook - Extending the Cycle
About Global Market Strategy
Our team of market strategists connects macroeconomics to asset allocation. We provide actionable insight into market-driving events, structural themes, and portfolio construction to empower investment decision-making.
Lauren Goodwin, CFA
Chief Market Strategist
Julia Hermann, CFA
Global Market Strategist
Michael LoGalbo, CFA
Global Market Strategist
Sarah Hirsch
Global Market Strategist
Subscribe to receive the latest macroeconomic commentary from New York Life Investment Management.
Subscribing gives consent to receive personalized online ads from New York Life Investment Management.
